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<br />thereof, shall be made by the Bond Registrar by lot in a manner
<br />determined by the Bond Registrar. In the case of a partial
<br />redemption of Bonds by lot when Bonds of denominations greater
<br />than $5,000 are then outstanding, each $5,000 unit of principal
<br />thereof shall be treated as if it were a separate Bond of the
<br />denomination of $5,000. If it is determined that one or more, but
<br />not all, of the $5,000 units of principal amount represented by a
<br />Bond are to be called for redemption, then, upon notice of
<br />redemption of a$5,000 unit or units, the registered owner of that
<br />Bond shall surrender the Bond to the Bond Registrar (i) for
<br />payment of the redemption price of the $5,000 unit or units of
<br />principal amount called for redemption (including, without
<br />limitation, the interest accrued to the date fixed for redemption and
<br />any premium), and (ii) for issuance, without charge to the
<br />registered owner, of a new Bond or Bonds of any Authorized
<br />Denomination or Denominations in an aggregate principal amount
<br />equal to the unmatured and unredeemed portion of, and bearing
<br />interest at the same rate and maturing on the same date as, the
<br />Bond surrendered.
<br />(iv) Notice of Redemption. The notice of the call for
<br />redemption of Bonds shall identify (A) by designation, letters,
<br />numbers or other distinguishing marks, the Bonds or portions
<br />thereof to be redeemed, (B) the redemption price to be paid, (C)
<br />the date fixed for redemption, and (D) the place or places where
<br />the amounts due upon redemption are payable. The notice shall be
<br />given by the Bond Registrar on behalf of the City by mailing a
<br />copy of the redemption notice by first class mail, postage prepaid,
<br />at least 30 days prior to the date fixed for redemption, to the
<br />registered owner of each Bond subject to redemption in whole or
<br />in part at the registered owner's address shown on the Bond
<br />Register maintained by the Bond Registrar at the close of business
<br />on the fifteenth day preceding that mailing. Failure to receive
<br />notice by mail or any defect in that notice regarding any Bond,
<br />however, shall not affect the validity of the proceedings for the
<br />redemption of any Bond.
<br />(v) Payment of Redeemed Bonds. In the event that notice
<br />of redemption shall have been given by the Bond Registrar to the
<br />registered owners as provided above, there shall be deposited with
<br />the Bond Registrar on or prior to the redemption date, moneys
<br />that, in addition to any other moneys available therefor and held
<br />by the Bond Registrar, will be sufficient to redeem at the
<br />redemption price thereof, plus accrued interest to the redemption
<br />date, all of the redeemable Bonds for which notice of redemption
<br />has been given. Notice having been mailed in the manner
<br />provided in the preceding paragraph hereof, the Bonds and
<br />portions thereof called for redemption shall become due and
<br />payable on the redemption date, and, subject to the provisions of
<br />subsection (d) of Section 3, upon presentation and surrender
<br />thereof at the place or places specified in that notice, shall be paid
<br />at the redemption price, plus accrued interest to the redemption
<br />date. If moneys for the redemption of all of the Bonds and
<br />-9-
<br />D03:[00523.DOCS.NOR05228]BOND_ORDINANCE_FIRE STATION_$3_440.
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